Filing Flows › United Parcel Service (UPS) › Q2 2026 › vs Q1 2026
United Parcel Service (UPS) Q2 2026 vs Q1 2026 (quarter over quarter)
United Parcel Service's revenue rose $1.6B (+8%) from $21.2B in Q1 2026 to $22.8B in Q2 2026. Operating margin 4.1% against 6.0% (-1.9 pts).
United Parcel Service, Q2 2026: revenue $22.8B (+8% year over year), operating margin 4.1%, net earnings $604M, operating cash flow $859M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 4.1% | 6.0% | -1.9 pts |
| Net margin | 2.6% | 4.1% | -1.4 pts |
| Free cash flow margin | 0.7% | 5.6% | -4.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $22.8B | $21.2B | $1.6B | +8% |
| Operating profit | $930M | $1.3B | −$337M | -27% |
| Costs & expenses | $21.9B | $19.9B | $2.0B | +10% |
| Pre-tax earnings | $761M | $1.1B | −$363M | -32% |
| Other expense, net | $169M | $143M | $26.0M | +18% |
| Net earnings | $604M | $864M | −$260M | -30% |
| Income tax | $157M | $260M | −$103M | -40% |
| Depreciation & amortization | $809M | $791M | $18.0M | +2% |
| Share-based compensation | $34.0M | $24.0M | $10.0M | +42% |
| Working capital & other | $588M | −$545M | $1.1B | — |
| Operating cash flow | $859M | $2.2B | −$1.4B | -61% |
| Free cash flow (OCF − capex) | $166M | $1.2B | −$1.0B | -86% |
| Capital expenditures | $693M | $1.0B | −$338M | -33% |
Questions
How much did United Parcel Service's revenue grow quarter over quarter in Q2 2026?
United Parcel Service's revenue rose $1.6B (+8%) from $21.2B in Q1 2026 to $22.8B in Q2 2026. Operating margin 4.1% against 6.0% (-1.9 pts).